Tax

June 2, 2009 - 6:47am

A 21-day sales tax exemption provision for out-of-state residents bringing newly purchased aircraft into Florida failed to pass the Florida Legislature last month. The bill passed the state’s House in late April, but the Senate refused to hear the bill based upon language that “allegedly created a negative revenue impact on the state budget.”

May 27, 2009 - 5:04am

Even though the nation’s airlines are playing nice with general aviation over the contentious question of user fees, the Obama Administration has clearly signaled that it wants to fund the FAA with more user fees in Fiscal Year 2011.

May 21, 2009 - 11:12am

The 2010 budget proposal for the FAA released earlier this month by the White House makes it obvious that President Obama wants a fundamental change in funding in FY 2011 by dramatically reducing General Fund support for aviation in America. The Administration proposal for 2011 envisions $9.6 billion coming from user fees–up more than $2 billion from the initial estimate earlier this year. That figure rises to $11 billion by 2014.

March 31, 2009 - 4:54am

The Government Accountability Office (GAO) warned last month that the excise taxes that feed the Airport and Airway Trust Fund have been lower than previously forecast, while estimates of future revenues have declined because of a drop in passenger traffic, fares and fuel consumption. Meanwhile, the uncommitted balance in the trust fund has been decreasing since Fiscal Year 2001.

March 30, 2009 - 5:04am

In addition to the costs of acquisition, prospective buyers must consider the costs–especially insurance and taxes–they will incur once they own the aircraft. To that end, aircraft management contracts with well thought-out insurance provisions should be integral to the aircraft acquisition process, said Bill Kingsley, an account executive with the Addison, Texas-based brokerage AirSure.

March 12, 2009 - 12:02pm

The Government Accountability Office (GAO) warned this week that the excise taxes that feed the Airport and Airway Trust Fund have been lower than previously forecast, while estimates of future revenues have declined because of a drop in passenger traffic, fares and fuel consumption. Moreover, the uncommitted balance in the trust fund has been decreasing since Fiscal Year 2001.

February 23, 2009 - 2:03pm

Visitors to the Conklin & de Decker display (Booth No. 3323) during Heli-Expo’09 can receive a 20-percent discount on some of the company’s most popular products, including the Aircraft Cost Evaluator, the Aircraft Performance Comparator, Life Cycle Cost and the State Tax Guide for General Aviation. The Massachusetts-based company released the 2009 tax guide earlier this month.

September 9, 2008 - 11:25am

Several U.S. operators of business aircraft report that they have received invoices this week from NavCanada for a retroactive 5-percent goods and services tax (GST) on air navigation service charges. The Canadian Revenue Authority (CRA) has assessed the tax to NavCanada, which is attempting to recover payments from aircraft operators who have flown in its airspace in the last five years, the length of the statute of limitations.

September 2, 2008 - 6:42am

The governor of Missouri has signed a bill eliminating sales tax on aircraft repair parts, aligning the state with neighboring states having similar laws. Before passing the law, Missouri exempted aircraft used to carry people and property, but now the tax exemption applies to all materials, replacement parts and equipment used for modification, repair, replacement and maintenance of aircraft, powerplants and accessories from Jan.

August 29, 2008 - 10:45am

In some respects Russia’s development has followed a pattern familiar to Westerners, but that is not true for its business aviation industry. While Russian billionaires show off their huge yachts in the most expensive and trendy places in the world, buy A380s for personal use, haunt French ski resorts and buy islands off Dubai, some of the nation’s laws prevent wealthy individuals from reaping the benefits of business aircraft.

 
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